Quick take: Mudajaya rises 9.6% on additional 550MW power supply

  • Stock on the Move
  • Tuesday, 04 Feb 2020

KUALA LUMPUR: Shares in MUDAJAYA GROUP BHD rose over 9.6% in early trade Tuesday after announcing its indirect associate in India has commenced additional power supply of 550MW.

The counter, the fourth most actives on Bursa Malaysia, advanced 9.64%, or four sen to 45.5 sen with 10.26 million shares traded.

Mudajaya said its indirect associate in India, RKM Powergen Pte Ltd, has commenced additional power supply of 550MW, bringing total sales to 900MW.

Mudajaya said the power is supplied to the state of Telangana via PTC India Ltd, in accordance with a pilot agreement between RKM and PTC India.

“This supply supplements the current power sales of 350MW to Uttar Pradesh Power Corporation Limited (UPPCL), bringing the total power sales from the RKM plant to 900MW, ” Mudajaya said.

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